Albemarle Corporation (NYSE:ALB) Given Average Recommendation of “Moderate Buy” by Analysts

Albemarle Corporation (NYSE:ALB) has been given an average rating of “Moderate Buy” by the twenty-seven brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $203.0417.

Several research firms recently issued reports on ALB. Scotiabank lifted their price objective on Albemarle from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Albemarle from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. lowered their price objective on Albemarle from $195.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Vertical Research upgraded Albemarle from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a report on Tuesday, May 26th. Finally, Berenberg Bank boosted their target price on Albemarle from $153.00 to $192.00 and gave the stock a “hold” rating in a report on Tuesday.

Albemarle Trading Up 0.6%

ALB stock opened at $172.12 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. Albemarle has a 12-month low of $53.70 and a 12-month high of $221.00. The stock has a market cap of $20.30 billion, a price-to-earnings ratio of -50.48, a PEG ratio of 0.86 and a beta of 1.30. The business’s 50-day moving average is $183.93 and its 200 day moving average is $164.66.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the firm posted ($0.18) EPS. Albemarle’s revenue was up 32.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Albemarle will post 12.39 EPS for the current fiscal year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, June 12th. Albemarle’s payout ratio is currently -47.51%.

Insider Buying and Selling at Albemarle

In other news, CEO J Kent Masters sold 16,393 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the transaction, the chief executive officer directly owned 87,519 shares in the company, valued at $16,078,990.68. The trade was a 15.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB purchased a new stake in shares of Albemarle during the 4th quarter valued at approximately $6,171,000. Altfest L J & Co. Inc. purchased a new stake in shares of Albemarle during the 4th quarter valued at approximately $1,055,000. Aegis Wealth Management LLC purchased a new stake in shares of Albemarle during the 3rd quarter valued at approximately $324,000. Three Seasons Wealth LLC purchased a new stake in shares of Albemarle during the 4th quarter valued at approximately $873,000. Finally, J. Safra Sarasin Holding AG raised its position in shares of Albemarle by 493.3% during the 4th quarter. J. Safra Sarasin Holding AG now owns 84,011 shares of the specialty chemicals company’s stock valued at $11,883,000 after buying an additional 69,850 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.